The United States is considering restrictions on China's Ant Group as well as Tencent Holdings Ltd over concerns their digital payment platforms threaten national security, Bloomberg News reported on Wednesday.
- The United States is considering restrictions on China’s Ant Group as well as Tencent Holdings Ltd over concerns their digital payment platforms threaten national security, Bloomberg News reported on Wednesday.
The step would also illustrate how President Donald Trump’s administration is now seeking to prevent Chinese firms from engraining themselves in the U.S. financial system before they become a significant threat. Talks over how and whether to restrict Ant Group and Tencent’s payment systems have picked up pace among senior U.S. officials in recent weeks, though a final decision is not imminent, Bloomberg reported, citing people familiar with the matter.
Ant Group, backed by Chinese e-commerce giant Alibaba, plans to list simultaneously in Hong Kong and on Shanghai’s STAR Market this month in what could be the world’s largest initial public offering, surpassing oil giant Saudi Aramco’s $29.4 billion float in December.
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